Oil firms fall as U.S-China trade war escalates

U.S.- listed shares of energy firms fall premarket, tracking prices of oil O/R

Brent crude futures LCOc1 fell ~3% to $63.54/barrel and U.S. West Texas Intermediate crude futures CLc1 were down 3.02% at $60.47/barrel

Prices declined as fears of a deepening U.S.-China trade war and possible recession eclipsed earlier relief created by President Donald Trump's 90-day pause on sweeping tariffs against most countries

Energy majors Exxon Mobil XOM.N and Chevron CVX.N lose 2.2% and 1.6%, respectively

Devon Energy DVN.N and Occidental Petroleum OXY.N down 2.8%, APA Corp APA.O drops 2.5%, Diamondback Energy FANG.O dips 2%

Refiners Valero Energy VLO.N down 2.6%, Marathon Petroleum MPC.N fell 2.2% and Phillips 66 PSX.N down 2.4%

Oilfield services Baker Hughes BKR.O and Halliburton HAL.N down 2% and 4.2%, respectively